ESMA - Simplification of MiFID II/MiFIR obligations on market data
ESMA has withdrawn its guidelines on the MiFID II/ MiFIR obligations on market data, effective immediately, reflecting its ongoing commitment to simplifying rules and reducing unnecessary compliance burdens for market participants. The decision aligns the framework with the newly applicable regulatory technical standards on the obligation to make market data available to the public on a reasonable commercial basis (RTS on RCB).
Next steps: the RTS on RCB entered into force on 23 November 2025. Market data providers authorised before that date benefit from a transition period until 22 August 2026. The transition period serves solely to allow market data providers to align existing contractual arrangements with the new requirements in the RTS.
